About Pippin Aint Easy

Like the title of this blog suggests, grabbin' pips in the Forex markets is easier said than done. This technical analysis blog will allow you to check out how I see currency price action playing out and chart patterns forming in real-time.

This is the true story of one man, picked to live in front of his computer screen and find ways to make money off the Foreign Exchange. See what happens when markets stop being polite, and start being real!

Daily Chart Art – June 18, 2013

GBP/JPY: Daily

Whoa! Check out GBP/JPY just chillin’ like ice cream fillin’ on the rising trend line on the daily timeframe. If you think that’s already sexy as it is, you should also know that the area also coincides nicely with the previous high and the 61.8% Fibonacci retracement level! Will support hold? Maybe. However, be wary for a strong break and a close around 146.50 as it could indicate that the pair is headed down the charts!

USD/JPY: 1-hour

In search of a breakout play? Look no further than USD/JPY! On the hourly timeframe, we see that the pair is making lower highs and higher lows, forming what looks like a symmetrical triangle. An upside break to 95.00 could hint at an upward rally possibly up to 97.00 while a close below 94.00 could be a signal for an impending drop to 93.00!

EUR/AUD: 1-hour

Aww, snap! I spy with my big eye a falling channel on EUR/AUD, and right now, price is testing resistance at the top of it! If it holds and reversal candlesticks materialize around 1.4000, we could soon see the pair drop to around last week’s low just below 1.3900. But if not, we could see the pair take another shot at the 1.4200 handle.

To get the complete picture and avoid getting blindsided by economic data, you also have to do your fundamental analysis.